Shell to Continue Investment in Iraq
The intention to move forward with a petrochemical plant follows a meeting between Iraqi Prime Minister Nouri al-Maliki and Shell Chief Executive.
Royal Dutch Shell recently announced its intention to build an $11 billion dollar petrochemical facility in the south of Iraq. The project is one of many major investments that the company has undertaken in Iraq in the past few years. The most notable of these investments has been the development of the Majnoon Oilfield outside the city of Basra.
Following a meeting with Iraqi officials, reports indicated that the final contract will be signed in the coming weeks. Shell and other major oil companies continue to play a major role in the development of Iraq’s oil industry.
Read the story at Wall Street Journal here.
